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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Barrick Gold Corp    ABX   CA0679011084

BARRICK GOLD CORP

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Barrick Gold : bids to acquire remaining Acacia shares

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05/22/2019 | 04:18am EDT
Mark Bristow, chief executive officer of Barrick Gold, speaks during an interview at the Investing in African Mining Indaba conference in Cape Town

(Reuters) - Canadian miner Barrick Gold Corp said on Tuesday it has proposed to acquire all of the shares it does not already own in Acacia Mining Plc through a share-for-share exchange of 0.153 Barrick shares for each ordinary share of Acacia.

The proposal values Acacia, which is majority-owned by Barrick, at $787 million and total consideration to the minority shareholders of Acacia of $285 million, Barrick said.

In its statement, Barrick said it has been negotiating with the government of Tanzania for the last two years to settle a tax dispute which could allow Acacia to resume its full operations in the country.

In a results presentation earlier this month, Barrick CEO Mark Bristow said Acacia was not cooperating in the negotiations and that Barrick was "stuck in the middle", prompting Acacia's interim CEO to criticize what he called Barrick's early intervention.

Bristow also said at the time that Barrick was open to buying out Acacia's minority shareholders.

Tanzania has accused Acacia of evading taxes for years by under-declaring exports - an allegation dismissed by the company.

(Reporting by Manojna Maddipatla in Bengaluru; Editing by Sonya Hepinstall)

Stocks treated in this article : Gold, Barrick Gold Corp
Stocks mentioned in the article
ChangeLast1st jan.
BARRICK GOLD CORP 3.21% 21.24 Delayed Quote.11.56%
GOLD 0.54% 1414.7 Delayed Quote.9.08%
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Financials ($)
Sales 2019 8 274 M
EBIT 2019 1 894 M
Net income 2019 581 M
Debt 2019 2 940 M
Yield 2019 0,96%
P/E ratio 2019 46,62
P/E ratio 2020 38,12
EV / Sales 2019 3,65x
EV / Sales 2020 3,50x
Capitalization 27 245 M
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Technical analysis trends BARRICK GOLD CORP
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TrendsBullishBullishBullish
Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 16
Average target price 15,9 $
Spread / Average Target 2,3%
EPS Revisions
Managers
NameTitle
Dennis Mark Bristow President, Chief Executive Officer & Director
John Lawson Thornton Non-Independent Executive Chairman
Graham P. Shuttleworth Chief Financial Officer & Senior Executive VP
Gustavo A. Cisneros Independent Director
J. Brett Harvey Lead Independent Director
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